The Democrat. (Scotland Neck, Halifax Co., N.C.) 1884-1896, 1887-08-26

in comparison, and are no. worthy
to be considered in this connection
The first in magnitude bu: least
+ regarded is to be foun in the oper.
atoms Of the financial system Of the
/ General Government. In the midst
of the strain and pressure Of the late
wal between the States the General
Government was driver to the nee
es3ity Of iuaugurating the present
system. This system would have
oeen hftlass and barren Of results.
had there not been inserted in 1t f
poisonous Ingredient that would Kill
all banks Of issue conducted under
State charters. y tax oC1O per cent.
per annuma was imposed in tie cir
culation Of State banks. It ought
TO have been called peuaty instead
If II t|r. Thc poison had the de-
sired effect. The circulation Of all
State banks was at once called in
he State banks were converted into
National banks, and the currency
became one, and made legal tender
Or equivalent thereto. AS a war
measure it may tie defenlcd. But
The reason tIat III lde this provision
rxcusable has long since d:ift.d IN,
10 the dead past As an economic
measure in tines Of peace, for free
people it Is utterly indefensIbIe. II
has broken up every cent of trade
10 the Union lut one, and tina:
in NV Iork-CbarIeSton o.
oar State, was once a Centre of
@rade, and vas da8 az the OBJ ming
Of hostilities. Bat now the current
Of trade WASHES around aau through
Charleston like the waves OF the sea
wash around and through h1ltom~
less aad stranded slip. Tae money
power of the Union, consisting of
hundreds OF millions of Treasury
notes and hundreds of millions Of
National hauk notes AMI all the !
money influences following IN their .
train is concentrated and central zed
at New York. I hat Is the apex or
Center Of the great revolving mael> |
strom Of the financial system. All |
other cities and tnat.s in The I'm on !
are but outpost or receiving d>@l
POS. The huge fortunes built up in !
A few yeats by Individuals in and |
about Ney YoIk b4 some uyoteri- |
pus and iIvisfbl@ process
IS tie proof of a deep Seated .
disease in tie body economic. A
'ew men BY comb nation Get control |
# this IRE eistitle uorev pOweT. ard |
,an. and do depfess and elevate the |
,rices of agricultural uroducts at
heir pleasure. A conner Ca3 it is
.aIled) is made in wheat. or bacon
pr lard. or cotton: and when the .
.orner IS dissolved aud the smoke
,lears away it will be discoyeted |
hat the unlucky producer has tare-
Y escaped insolvency or has become
hankrupt while Il small syndicate
It IKE center hes banned out ore or
i've. or ma, be, ten millions Of del
ars. It is here that tie profit Of
.rming so far as the producer is
drop out, and it is in the
lands 81 these giant combinations,
made possible by this vicious sys-
en-, that these profits lodge. The farm
r has Il" more inhnence IN hXlng
he prices Of his products against
his powerful con binatlOn than an
infant Las in resisting or directing
cycloue. Nor does the real vaine
# the products tend to Xix Their
rice. II is ali ARTIFICIAL ana IS dis
strOus to healthy economic me-
The hulls and bears have no reputa-
ion for morality, and any one OF
hem wonl / not hesitate to wreck a
nilli0l Of farmers ii thereby he